BlackRock
Q4 2022 Earnings Call
Jan 13, 2023, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Karen, and I will be your conference facilitator today. Today's call is being recorded. At this time, I would like to welcome everyone to the BlackRock, Inc.
fourth quarter 2022 earnings teleconference. Our host for today's call will be chairman and chief executive officer, Laurence D. Fink; chief financial officer, Gary S. Shedlin; president, Robert S.
Kapito; and general counsel, Christopher J. Mead. [Operator instructions] Mr. Meade, you may begin your conference.
Chris Meade -- General Counsel
Good morning, everyone. I'm Chris Meade, the general counsel of BlackRock. Before we begin, I'd like to remind you that during the course of this call, we may make a number of forward-looking statements. We call your attention to the fact that BlackRock's actual results may, of course, differ from these statements.
As you know, BlackRock has filed reports with the SEC, which was some of the factors that may cause the results of BlackRock to differ materially from what we see today. BlackRock assumes no duty and does not undertake to update any forward-looking statements. So, with that, I'll turn it over to Gary.
Gary Shedlin -- Chief Financial Officer
Thanks, Chris. Good morning, and happy new year to everyone. It's my pleasure to present results for the fourth quarter and full year 2022. Before I turn it over to Larry, I'll review our financial performance and business results.
While our earnings release discloses both GAAP and as-adjusted financial results, I will be focusing primarily on our as-adjusted results. As a reminder, beginning in the first quarter of 2022, we updated our definitions of as-adjusted operating income, operating margin, and net income. Year-over-year financial comparisons referenced on this call will relate current quarter results to these recast financials. Throughout BlackRock's history, we have consistently invested in our business with a long-term focus and commitment to serving clients across market environments.
We have established leadership positions in high growth areas, such as ETFs, private markets, outsourced solutions, and technology. And we have integrated these industry-leading capabilities into our One BlackRock business model and culture to create a distinct and differentiated value proposition for clients. As a result of these investments, we grew organically at our fastest rate ever in 2021. And while 2022 was one of the most challenging market environments in over 50 years, clients around the world once again turned to BlackRock for advice and assistance to construct more resilient portfolios.